In a momentous achievement, the Sacramento Kings have been bestowed with the NBA Team of the Year Award and the NBA Innovation Award. These accolades acknowledge the team’s outstanding business performance and groundbreaking initiatives during the 2022-2023 season.
Vivek Ranadivé Expresses Pride and Gratitude
Kings Owner and Chairman Vivek Ranadivé expressed immense pride, stating, “We are tremendously proud to be recognized with these distinguished honors.” He extended his gratitude to key figures within the organization, highlighting Matina Kolokotronis and John Rinehart for their leadership in realizing the vision of making the Kings a global brand that positively impacts the community.
Business Success Highlights: Season Ticket Renewal, Revenue Growth, and Corporate Partnerships
The Kings enjoyed significant success on the business front during the 2022-2023 season, boasting a nearly 100% season ticket renewal rate. They secured the second spot among all NBA teams in ticket revenue growth and welcomed over 20 new corporate partners. The team also claimed the top position for fan in-game experience in the NBA.
Impressive Viewership and Playoff Performance
The Kings witnessed a remarkable surge in game viewership, with a notable increase of over 200%, while the postgame show experienced an impressive uptick of 177%. The team delivered the most-watched 1st Round Playoff Game in 24 years, garnering ABC’s largest-ever audience for a non-NBA Finals game.
Innovative Ventures: E-commerce, Community Impact, and the Victory Beam
Innovating both in and out of the arena, the Kings launched a new e-commerce platform and revamped the in-arena team store, resulting in a substantial 35% increase in merchandise sales. The team actively engaged with the community, hosting more than 100 events that impacted nearly 100,000 people.
Sacramento Kings Victory Beam: A Symbol of Triumph and Unity
A standout innovation introduced by the Kings is the Sacramento Kings Victory Beam. Functioning as a communal fireplace, the beam has transformed the Golden 1 Center into a town square for fans to celebrate, worship, and unite. Following a win, fans gather outside the arena to revel in the glow of the beam, making it a symbol of hope and community building. The beam’s international recognition has further amplified the Kings’ success during the 2022-23 season, notably breaking their playoff drought and securing home-court advantage in the 2023 NBA Playoffs. It stands as a physical embodiment of Sacramento’s pride and a testament to the Kings’ commitment to their loyal fanbase.
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